"It's not up to the rodeos or the events to say yes we're having it or no we aren't," said Hirsig. "Just like all the businesses, you're going to have to meet certain things in order to have your event."

"Social distancing is going to be tough," he added. "You can't cut your ticket sales down by two-thirds and pay for the acts or pay for anything you have."

Because leaders have "their plates full right now trying to open up the state," Hirsig says CFD is taking a wait-and-see approach before pulling the plug on this year's show.

"At this point, I really don't see an option," he said. "We just kind of have to wait and see what happens over the next couple of weeks."

"It's a lot of money [$28 million] for this community, and boy they're going to need it," Hirsig added. "I don't want to have a knee jerk reaction and then look back and say, 'God, we should have waited.'"